Peru: Sportswear Market 2024

Sportswear Market Size in Peru

The Peruvian sportswear market reached $X in 2021, growing by 8.1% against the previous year. Overall, the total consumption indicated tangible growth from 2012 to 2021: its value increased at an average annual rate of +2.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -8.8% against 2019 indices. Over the period under review, the market reached the maximum level at $X in 2013; however, from 2014 to 2021, consumption stood at a somewhat lower figure.

Sportswear Production in Peru

In value terms, sportswear production rose notably to $X in 2021 estimated in export price. Overall, production, however, faced a deep downturn. Over the period under review, production attained the peak level at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

Sportswear Exports

Exports from Peru

After three years of decline, overseas shipments of track suits, ski suits and swimwear increased by 73% to X units in 2021. Overall, total exports indicated a measured increase from 2012 to 2021: its volume increased at an average annual rate of +2.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the exports attained the maximum at X units in 2014; however, from 2015 to 2021, the exports failed to regain momentum.

In value terms, sportswear exports surged to $X in 2021. In general, exports, however, continue to indicate a slight contraction. The pace of growth was the most pronounced in 2014 when exports increased by 77%. As a result, the exports attained the peak of $X. From 2015 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

Chile (X units), the United States (X units) and Canada (X units) were the main destinations of sportswear exports from Peru, with a combined 92% share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Canada (with a CAGR of +80.8%), while the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), Chile ($X) and the Dominican Republic ($X) constituted the largest markets for sportswear exported from Peru worldwide, together comprising 76% of total exports. These countries were followed by Canada and Ecuador, which together accounted for a further 7%.

Canada, with a CAGR of +66.6%, saw the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average sportswear export price stood at $X per unit in 2021, shrinking by -14% against the previous year. Over the period under review, the export price saw a noticeable downturn. The most prominent rate of growth was recorded in 2019 when the average export price increased by 19% against the previous year. The export price peaked at $X per unit in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major overseas markets. In 2021, the country with the highest price was the Dominican Republic ($X per unit), while the average price for exports to Chile ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the Dominican Republic (+14.3%), while the prices for the other major destinations experienced more modest paces of growth.

Sportswear Imports

Imports into Peru

In 2021, the amount of track suits, ski suits and swimwear imported into Peru expanded significantly to X units, with an increase of 15% compared with 2020 figures. Overall, total imports indicated resilient growth from 2012 to 2021: its volume increased at an average annual rate of +6.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -5.5% against 2019 indices. The most prominent rate of growth was recorded in 2017 when imports increased by 100% against the previous year. Imports peaked at X units in 2019; however, from 2020 to 2021, imports failed to regain momentum.

In value terms, sportswear imports expanded notably to $X in 2021. Over the period under review, total imports indicated temperate growth from 2012 to 2021: its value increased at an average annual rate of +3.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -3.8% against 2019 indices. The pace of growth appeared the most rapid in 2013 with an increase of 44% against the previous year. Imports peaked at $X in 2014; however, from 2015 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, China (X units) constituted the largest supplier of sportswear to Peru, with a 84% share of total imports. Moreover, sportswear imports from China exceeded the figures recorded by the second-largest supplier, Vietnam (X units), more than tenfold. Cambodia (X units) ranked third in terms of total imports with a 4.1% share.

From 2012 to 2021, the average annual growth rate of volume from China amounted to +6.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Vietnam (+9.5% per year) and Cambodia (+17.9% per year).

In value terms, China ($X) constituted the largest supplier of track suits, ski suits and swimwear to Peru, comprising 60% of total imports. The second position in the ranking was held by Vietnam ($X), with a 15% share of total imports. It was followed by Cambodia, with a 9.1% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China stood at +3.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Vietnam (+10.1% per year) and Cambodia (+21.7% per year).

Import Prices by Country

The average sportswear import price stood at $X per unit in 2021, therefore, remained relatively stable against the previous year. Over the period under review, the import price continues to indicate a noticeable reduction. The pace of growth was the most pronounced in 2016 an increase of 20%. As a result, import price reached the peak level of $X per unit. From 2017 to 2021, the average import prices remained at a somewhat lower figure.

Prices varied noticeably country of origin: the country with the highest price was Vietnam ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Cambodia (+3.2%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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